India seeks Malaysian investment in infrastructure sector

NEW DELHI: Seeking investments from Malaysia in the infrastructure sector, Finance Minister Pranab Mukherjee today said signing of a revised Double Taxation Avoidance Agreement ( DTAA) between India and the Southeast Asian nation will further boost economic relations.

In a meeting with Malaysian Minister of Finance Dato Haji Ahmad Husni bin Mohammad Hanadzlah here, Mukherjee said that the comprehensive free trade pact which came into force in July would "substantially" enhance bilateral economic activity between the countries.

The bilateral trade between the nations stood at USD 7.26 billion during January-July 2011.

During the talks, Hanadzlah said that his government will facilitate more Indian investments in Malaysia, an official statement said.

India's infrastructure sector needs investment of over USD 1 trillion over the next five years.